Top 10 Tech Trends to Skyrocket Your eCommerce Business
Published: Oct 11, 2022
It is not surprising that the eCommerce sector is one of the fastest-growing and most dynamic industries today. According to "Statista" online sales worldwide are estimated to reach about 8.1 trillion dollars by 2026, which is 56 percent more compared to 2021. More than ever, the global tendency towards digitalization is increasing at lightning speed. So, if you want your business to be up to date with the latest tech innovations and trends in eCommerce, stay with us and keep reading.
Augmented Reality (AR)
Augmented reality is an absolute game changer for the eCommerce sector. By utilizing this hyped trend, you can provide your customers with a unique immersive experience by allowing them to virtually try on and interact with your products through the camera of their mobile devices. AR can help your consumers make confident buying decisions that lead to higher conversion rates and increased post-purchase satisfaction.
Virtual Reality (VR)
Virtual reality has come a long way. Other industries have been embracing the possibilities it gives for quite some time. Ecommerce VR is a relatively new concept that started to see some adoption only in recent years, partly because it is a complex process to get running. VR technology has some fascinating real-use applications in online retail. One such use case is building virtual stores or showrooms that allow people to see and try something out before they buy.
Experts in the sector believe voice ordering is the future of the online retail industry . It is much like having a dedicated salesperson who guides you through the complete shopping process. It also enhances the customer experience making it much more convenient, engaging, individualized, and less time-consuming. Can you imagine your customers getting instant access to a wide range of items and purchasing in a few seconds without ever touching their devices? If you are not looking into voice shopping, it is high time you started adopting this idea.
Artificial Intelligence (AI)
Undoubtedly, AI is gaining popularity in the eCommerce market because of its possibilities. It continuously collects and analyzes customer information, such as purchasing history, searches, age, gender, preferences, and behavior patterns. Based on that, it can suggest relevant product recommendations and enable personalized shopping journeys. AI can optimize your cross-channel spending by identifying which customer favors which channel. As a result, you can automate your outreach process based on user preferences. Performing data analysis can significantly increase your brand effectiveness and push your marketing strategy and financial decisions even further.
Today's consumers are impatient and expect seamless and robust online shopping. They can get frustrated if they cannot find or buy products in just a few clicks. That is where a chatbot comes in handy. It is designed with the thought of engaging with your users in human-like conversation and even pushing them down the sales funnel. You may still wonder what this whole buzz about bots is and how your online business can profit from implementing them. For example, chatbots can convert first-time visitors into new customers by showing them your latest items or enticing them with discount pricing. That means more sales for you. They are always around the clock, providing instant responses to questions regarding product-related details, offering assistance with delivery tracking, or answering your customers' most FAQs. That helps to decrease the waiting time and improve customer support. What is more, chatbots can help you collect feedback to see how happy your consumers are with your brand and services.
"Statista" forecasts the number of mobile devices to reach 18.22 billion by 2025, which is not surprising given people's continuous dependence on smartphones to fulfill their daily activities. So, if you are in online retail and your eCommerce store is not responsive on mobile or does not have a mobile app version, pay attention to this trend. Otherwise, you will miss out on great opportunities. Be resourceful and allow your shoppers to purchase from anywhere and to pay digitally.
More Payment Integrations
For you as a retailer, customer convenience must be a priority and along with that are the payment methods. Providing multiple ways to pay online is essential - not only to increase your conversion rates, but also to prevent the cancellation of potential sales. After all, users are more likely to abandon their carts if their preferred payment method is not available in your store. Keep in mind that completing a payment should be as fast and straightforward as possible for your customers.
Headless and API-Driven eCommerce
Headless commerce is an eCommerce software architecture that allows the decoupling of the online store's presentation layer (the so-called front-end) entirely from the underlying retail platform. Because of the flexibility of this approach, many merchants are already adopting it. One of the main benefits is the highly-customizable user interface, as the design does not have to depend on any predefined structure anymore. Also, going headless makes your eCommerce store very fast performance-wise.
Social media has revolutionized the way businesses and consumers interact. It is one of the most powerful digital marketing platforms for brand promotion. Social commerce uses networks such as Facebook, Instagram, Youtube, and TikTok to advertise and to sell products and services. You can take advantage of this revenue opportunity, reimaging your customers' engagement by offering them diverse social channels to contact you. Be adaptable to the new wave of online shopping because the value of social commerce sales is predicted to reach around 2.9 trillion U.S. dollars by 2026.
Livestream selling is popular among a wide range of business domains, such as fashion & apparel, beauty & cosmetics, and food & beverages. It gives you a chance to promote your items and have instant purchases. You can also attract shoppers' attention and increase sales by creating urgency with limited-quantity products, discount codes, or limited-time offers. Livestream commerce enables you to establish a stronger connection with your customers by answering their questions in real-time.
Tech trends are popping up every day, and there is no one-size-fit solution that can take your business to the next level. You would better experiment, test, or combine different approaches to enhance your online shop. Always stay aware of the latest eCommerce innovations by making improvements and adjustments to your strategy.
- online business
- online store